ValuEngine cut shares of ON Semiconductor (NASDAQ:ON) from a hold rating to a sell rating in a report released on Friday morning.

A number of other analysts have also recently commented on ON. Craig Hallum restated a buy rating and set a $25.00 target price (down previously from $31.00) on shares of ON Semiconductor in a report on Tuesday, October 30th. Morgan Stanley dropped their target price on shares of ON Semiconductor from $18.50 to $14.50 and set an underweight rating on the stock in a report on Tuesday, October 30th. BidaskClub cut shares of ON Semiconductor from a sell rating to a strong sell rating in a report on Saturday, September 8th. BMO Capital Markets initiated coverage on shares of ON Semiconductor in a report on Monday, November 12th. They set a market perform rating and a $20.00 target price on the stock. Finally, Nomura dropped their target price on shares of ON Semiconductor from $30.00 to $23.00 and set a buy rating on the stock in a report on Tuesday, October 30th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $24.29.

ON Semiconductor stock traded down $0.90 during mid-day trading on Friday, reaching $17.37. 5,929,655 shares of the company traded hands, compared to its average volume of 6,088,373. The company has a current ratio of 2.36, a quick ratio of 1.44 and a debt-to-equity ratio of 0.82. The company has a market cap of $7.69 billion, a P/E ratio of 11.90, a PEG ratio of 0.74 and a beta of 2.04. ON Semiconductor has a 52-week low of $14.55 and a 52-week high of $27.10.

ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings data on Sunday, October 28th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.07. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.51 billion. ON Semiconductor had a net margin of 17.24% and a return on equity of 25.97%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 EPS. Analysts predict that ON Semiconductor will post 1.9 EPS for the current fiscal year.

ON Semiconductor declared that its Board of Directors has initiated a share buyback program on Thursday, November 15th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 20.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

In other ON Semiconductor news, VP Paul E. Rolls sold 31,487 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $20.00, for a total transaction of $629,740.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP William Hall sold 25,000 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $19.56, for a total transaction of $489,000.00. Following the transaction, the executive vice president now owns 415,797 shares in the company, valued at approximately $8,132,989.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,650 shares of company stock worth $1,660,553. 1.60% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of ON. Nan Shan Life Insurance Co. Ltd. purchased a new stake in shares of ON Semiconductor during the 2nd quarter valued at about $84,493,000. BRILLIANCE ASSET MANAGEMENT Ltd purchased a new stake in shares of ON Semiconductor during the 2nd quarter valued at about $79,320,000. Pictet Asset Management Ltd. increased its position in shares of ON Semiconductor by 24.1% during the 3rd quarter. Pictet Asset Management Ltd. now owns 11,721,514 shares of the semiconductor company’s stock valued at $216,028,000 after purchasing an additional 2,278,586 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in ON Semiconductor by 45.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,898,808 shares of the semiconductor company’s stock worth $127,137,000 after acquiring an additional 2,151,387 shares in the last quarter. Finally, Capital International Investors increased its holdings in ON Semiconductor by 9.0% in the 3rd quarter. Capital International Investors now owns 20,741,159 shares of the semiconductor company’s stock worth $382,260,000 after acquiring an additional 1,712,102 shares in the last quarter. Institutional investors and hedge funds own 91.81% of the company’s stock.

ON Semiconductor Company Profile

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. It operates through three segments: Power Solutions Group, Analog Solutions Group, and Image Sensor Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.

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Analyst Recommendations for ON Semiconductor (NASDAQ:ON)

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